Buffet targets Russian jet set

He is called the Sage of Omaha and for good reason, writes Jamie Doward. Warren Buffet has become the world's second richest man, with an estimated fortune of $30.5 billion, by seeing investment opportunities others miss.

Buffet's latest move is no exception. His luxury jet firm NetJets, which flies the likes of Tom Hanks and Tiger Woods around the globe, is now targeting Russia's burgeoning ranks of millionaires.

NetJet's European CEO, Mark Booth, said: 'We think we have a terrific opportunity to build a business in Moscow and St Petersburg. The economy is slow in some parts of Europe, but it is booming there.'